Infrastructure manager Macquarie Asset Management (MAM) announced last week that a fund managed by MAM has entered into an agreement to make a structured equity investment in SwyftFiber, a US-based Internet Service Provider (ISP) that offers internet and television streaming services to communities in Louisiana, Arkansas, and Mississippi. Macquarie stated that this strategic partnership holds the promise of empowering underserved areas with essential high-speed connectivity.
Experience and Expertise in Broadband
The statement noted that SwyftFiber's management team has decades of cumulative experience in building and operating broadband companies, and the company has achieved significant success in rapidly scaling broadband infrastructure. Furthermore, SwyftFiber has established strong partnerships with local and federal government agencies and has been selected to help enhance broadband availability through the Louisiana GUMBO grant program and the Federal Communications Commission's RDOF program.
Growth in the Gulf Region
MAM stated that the proposed investment of funds is expected to enable SwyftFiber to accelerate the construction of fiber infrastructure in both existing and new markets, thus facilitating the company's growth and benefiting communities throughout the Gulf region.
Established in 2008, operating under the names SwyftFiber and SwyftConnect, CableSouth offers telecommunication services, including internet, interconnected VoIP, and cable and streaming video services to both residential and commercial customers in Louisiana, Mississippi, and Arkansas.
The Transaction remains subject to regulatory approvals. The release does not disclose the investment amount; however, it is reported that the investment will support future fiber buildouts aimed at bridging the digital divide in underserved communities.